Merritt equipment company sells computers for $1,360 each and also gives each customer a 2-year warranty that requires the company to perform periodic services and to replace defective parts. during 2017, the company sold 860 computers on credit. based on past experience, the company has estimated the per unit 2-year warranty costs as $40 for parts and $60 for labor. (assume sales all occur at december 31, 2017.)in 2018, merritt incurred actual warranty costs relative to 2017 computer sales of $10,000 for parts and $15,000 for labor. under the expense warranty approach, give the entries to reflect the above transactions (accrual method) for 2017 and 2018. (credit account titles are automatically indented when the amount is entered. do not indent manually.)

Use this image to answer the following question. when the economy is operating at point b, the us congress is most likely to follow

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.

Mae jong corp. issues $1,000,000 of 10% bonds payable which may be converted into 10,000 shares of $2 par value ordinary shares. the market rate of interest on similar bonds is 12%. interest is payable annually on december 31, and the bonds were issued for total proceeds of $1,000,000. in accounting for these bonds, mae jong corp. will: (a) first assign a value to the equity component, then determine the liability component. (b) assign no value to the equity component since the conversion privilege is not separable from the bond.(c) first assign a value to the liability component based on the face amount of the bond.(d) use the “with-and-without” method to value the compound instrument.